The General Assembly finds and declares that:
(1) Abandoned and blighted residential, commercial, and industrial buildings are a nuisance and public safety threat to communities across the Commonwealth, negatively affecting quality of life and surrounding property values. If not rehabilitated, the buildings are likely to remain abandoned and subject to further deterioration, resulting in increased costs to the Commonwealth, local governments, and taxpayers;
(2) Providing a mechanism to transform abandoned and blighted buildings into productive reuse and return to the market is an opportunity for communities throughout the Commonwealth to revitalize, grow, and improve the quality of life of its citizens; and (3) If the owner of an abandoned and blighted residential, commercial, or industrial building fails to maintain a building in compliance with applicable public safety housing, building, and nuisance code requirements, it is in the public interest for the court, pursuant to KRS 99.780 to 99.855, to appoint a conservator to bring the building into compliance with applicable code requirements before the building sustains further deterioration preventing future productive economic use.